Louisiana Revised Statutes 9:1711.1 – Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as co-owners in
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Terms Used In Louisiana Revised Statutes 9:1711.1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as co-owners in indivision or tenants in common, may obtain registration in beneficiary form.
Acts 2021, No. 167, §1, eff. Jan. 1, 2022.